Superior Sensor Technology Secures USD 4.5 Million in Venture Funding Round
The company was founded in 2016 with an objective to develop cost-efficient, high-performance pressure sensor solutions that enhance performance, reduce system design complexity, and lower manufacturing and installation equipment costs
Fremont, CA: Advanced pressure sensor developing firm Superior Sensor Technology secured USD 4.5 million in a financing round led by 40 North Ventures, a venture capital subsidiary of Standard Industries Group. Proceeds from the financing round will be used by the company to provide growth capital to add resources to its marketing and sales efforts while accelerating its product development road map. The Santa Clara based company is a developer of advanced pressure sensors for industrial, HVAC and medical equipment.
"There has been a broad-based acceptance of this new technology across all geographies, with new designs underway using our HV-Series and SP-Series pressure sensor products," said Jim Finch, CEO of Superior Sensor Technology. "This new round of funding will enable us to better support our growing customer base with the development of advanced pressure sensing solutions for a broader range of applications and increase our marketing, sales and application resources to support this larger product offering for next-generation equipment."
The company was founded in 2016 with an objective to develop cost-efficient, high-performance pressure sensor solutions that enhance performance, reduce system design complexity, and lower manufacturing and installation equipment costs. Superior Sensor Technology makes use of its proprietary NimbleSense architecture to set new standards of performance for pressure sensors that have resulted in numerous design wins with major industrial, HVAC and medical equipment manufacturers.
"Superior Sensor Technology was the first company to demonstrate the system performance advantages of applying an innovative, fresh technology perspective to the pressure sensing market. As a company deeply entrenched in the industrial, commercial market, we believe Superior Sensor Technology has a unique opportunity to become the undisputed leading supplier of pressure sensing solutions into this space," said Marc van den Berg, General Partner of 40 North Ventures. The lead investor, 40 North Ventures, is a USD 200 million venture fund based in California and related to Standard Industries, a privately held, global, diversified industrial company with interests in building materials, including the world's largest roofing and waterproofing manufacturer.
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